Kalshi

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While most bettors prefer to bet on sports, others are drawn to events outside the sporting world.

If you’ve ever wondered whether you can bet on cultural or worldwide events, you’ll be pleased to hear that you can do so on sites like Kalshi.

Kalshi, which is an Arabic word that quite literally means anything, allows bettors and traders to place prediction bets on many worldwide events.

Essentially, you’ll be risking your money on yes-or-no questions raised by another member or one of Kalshi’s internal researchers.

If your prediction is right, you’ll walk away with a profit, just like in sports betting.

Since many people may not be familiar with sites like Kalshi and how event betting works, we’ve put together a comprehensive guide to help traders who are interested in joining the site.

Pros & Cons Of Kalshi

Pros:

• Freedom to trade on an unlimited number of markets
• Kalshi is licensed and operates legally
• Kalshi is regulated by the Commodity Futures Trading Commission (CFTC)
• Kalshi is available nationwide
• Trades on Kalshi are 100% secure

Cons:

• The site has limited payment methods
• Kalshi isn’t allowed to offer sports-related propositions
• Doesn’t have an app
• There is no welcome bonus or rewards program

Would We Place Prediction Bets At Kalshi?

It’s fair to say that Kalshi is a unique site since it doesn’t fall into the conventional classification of a betting site.

However, this is what makes Kalshi shine, especially when there’s an oversaturation of sportsbooks and betting sites in the market.

Traders who sign up on the site have an array of distinct markets to look forward to.

Most of the markets that the site offers aren’t just pulled from thin air, but they intersect with our day-to-day lives.

The site itself is clean and aesthetically pleasing and is available in all 50 states since it’s a derivatives exchange and not a traditional betting site.

Overall, we were pleased with Kalshi, and we would surely use the site to place prediction bets.

Prediction Betting Markets Quality

On Kalshi, users can trade on quite literally anything.

The only market that Kalshi lacks is sporting events since they are not licensed to take such wagers.

Other than that, Kalshi offers markets ranging from COVID-19 to entertainment to politics betting, so traders have plenty of markets to look forward to once they sign up on the site.

An In-Depth Look At Kalshi

Kalshi is an MIT startup that was launched in 2018. The site was founded by Tarek Mansour and Luana Lara.

Both were in their early twenties when they founded the site after they spotted a gap when they saw that majority of bets placed were primarily on sports.

This meant that people who wanted to place bets on certain worldwide events had no avenue of doing so.

While sports betting is highly regulated, Kalshi also operates in a highly regulated space.

The site gained approval from the Commodity Futures Trading Commission (CFTC), which allowed Kalshi to run a derivatives exchange.

By doing so, Kalshi became the first federally regulated exchange, meaning that the site can legally operate in all 50 states.

Kalshi is currently based in New York and is backed by many Silicon Valley and Wall Street investors, such as Y Combinator, Global Founders Capital, and Sequoia.

Kalshi Bonus Details

Bonuses are a core staple of the sports betting world.

However, since Kalshi isn’t a traditional betting site, the site currently lacks welcome offers.

The only promo that the site has is a referral program.

If you send a referral link to a friend and they end up trading 100 contracts, both you and the person you’ve referred will receive $10.

To get your custom referral link, just head over to the accounts page.

Registration Process At Kalshi

If you’re new to Kalshi and you’ve never registered on the site, here’s how you can do so:

• Go to Kalshi’s mobile or desktop site
• Enter your email
• Enter a secure password and confirm it
• Click confirm. Kalshi will then send a verification code to your email, and you’re supposed to enter this code on the registration page
• On the next page, you’ll need to enter the following info: full name, date of birth, your physical address, the state you’re in, your Zip Code, and your mobile number
• Finally, select your interests. Once you do so, complete the registration process to create your Kalshi account

Ensure all your registration details are accurate since Kalshi uses certain verification checks to confirm that users are based in the United States or a U.S. territory.

If you’d previously signed up on Kalshi, you don’t need to sign up again.

To avoid any potential back and forth with the site, the best and safest option is to log in using the details that you had signed up with.

Kalshi App Experience

At the time of writing, Kalshi doesn’t have a mobile app.

So traders can only trade on events using Kalshi’s desktop or mobile site.

GeoComply

GeoComply is the go-to geolocation software used by many of the top sports betting sites in the country.

GeoComply simply shows sportsbooks that a user is based where they claim to be, and the user isn’t using a VPN to mask their location.

GeoComply may be a necessity on many sportsbooks, but since Kalshi operates in all 50 states, you won’t need to use GeoComply.

However, to sign up on Kalshi, you need to be a legal US resident, so residents in other countries currently can’t sign up on the site.

Kalshi Site Experience

The only way that traders can access Kalshi is by going directly to either the mobile or desktop site.

Whichever of the two you decide to use, you’ll still be pleased by Kalshi’s site, especially because of the site’s user-friendly nature.

The site has a clean, polished look to it and is extremely pleasing to the eye. Aside from the site’s aesthetics, it’s easy to jump from one option to the next.

In the top-left corner, there are three quick links: markets, blog, and learn.

To see available markets that you can trade on, just click the tab/quick link titled markets.

If you want to see the latest news regarding some of Kalshi’s markets, click on the blog.

To learn how to trade on the site, click the tab titled Learn.

On the other hand, if you wish to log in, just head over to the top-right corner and click the log-in button.

Users who want to sign up just need to click the sign-up button, which is situated next to the log-in button.

With all these quick links, traders shouldn’t have any problems jumping from one section of the site to the next.

Kalshi Prediction Markets

There are many types of prediction markets that users can trade on.

Some of the major categories that the site focuses on include:

• Culture
• COVID-19
• Economics
• Politics
• Worldwide Events
• Transportation
• Science & Technology
• Climate & Weather

Notable Features

Kalshi has a few notable features. Some of these include the following:

• Ability to trade on extremely unique event contracts
• Automated trading is permitted on the site

Understanding Trading Options

Trading event contracts, which is akin to betting, is extremely easy on Kalshi.

A question is usually posted to the site in the markets tab, and it’s up to you to decide if the stated event will happen.

Each yes/no option has a certain price, ranging from $0.01 to $0.99, and each contract pays out $1.

The price of the contract essentially conveys the different probabilities of certain events occurring. A low contract price won’t be as likely to return money and vice versa.

The amount you can earn per trade will depend on the number of contracts purchased.

For instance, if you purchase 100 No contracts, each valued at $0.50, and your prediction ends up being accurate, you’ll end up with a profit of $50.

This is because you used $50 to purchase those contracts (100*$0.50) and your payout ended up being $100 since each contract has a $1 payout. So your profit, in this case, will be $100 – $50 = $50.

There is a limit to the amount you can trade. The site states that your max net exposure in a single market is limited to $25,000.

Deposit & Withdrawals

If you want to deposit money into your Kalshi account, you can use either of the following methods:

• ACH Transfer
• Wire Transfer

If you want to opt for an ACH transfer, you simply need to link your bank account to Kalshi by heading over to the banking page.

Deposits via this method can take 2–4 business days to reflect in your Kalshi account.

If you wish to make a wire transfer, you need to initiate it by contacting your bank. It should take between 1 to 2 days for the funds to appear in your trading account.

The only way you can withdraw your funds on Kalshi is through an ACH transfer.

Any funds that you’ve deposited become withdrawable after 7 days. Profits, on the other hand, can be withdrawn at any time.

Kalshi State Restrictions

Unlike sportsbooks which are restricted to select states with legalized sports betting, Kalshi is a federally regulated exchange, meaning that it is available to traders in all 50 states.

So as long as you’re a US resident, you can legally sign up on the site.

Loyalty Program

At the time of writing, Kalshi doesn’t have a loyalty program.

Customer Service

You can use one of the following methods to reach out to Kalshi’s customer care team:

• Contact Email – support@kalshi.com
• Phone Number – 332-205-9910

If you have any queries regarding how the site works, you can head over to Kalshi’s help center.

Here, you’ll find many frequently asked questions that should answer any trading-related queries you may have.

Kalshi Safety And Security

We’ve already mentioned that Kalshi was the first federally regulated exchange.

As you can expect, to get such approval from the CFTC, a site needs to adhere to certain safety and security standards.

This means you can trade on Kalshi with no worries since the site has met such regulatory expectations.

Regardless of this, always choose a strong password when you’re signing up.

You also shouldn’t share this password with anyone else, even close family members, if you truly want to safeguard your trading account.